Hearing set for December in Ligresti fraud case

(ANSA) – Turin, October 15 – A trial date has been set for December for businessman Salvatore Ligresti and several other suspects in an alleged insurance fraud at Italian insurance company Fonsai, authorities said Tuesday.

The hearing is scheduled for December 4 in the trial of five suspects. Ligresti and former Fonsai manager Emanuele Erbetta are among a group of people under investigation to determine whether false accounting and market manipulation practices took place at the insurance company. The Ligresti family are the former majority owners of the Fonsai and Milano Assicurazioni insurance companies.

The case has focused on accounting irregularities that enabled Ligresti, according to the indictment, to acquire illegal dividends of 200 million euros.